SpringerNature hurries 7 billion euro Frankfurt listing

SpringerNature, the publisher of science magazine Nature, has brought forward a listing which may value it at more than 7 billion euros (6.17 billion pounds)including debt, to reduce the risk from volatile stock markets, people close to the matter said. The company, which also publishes Scientific American, is planning to announce its initial public offering (IPO) in May, with a Frankfurt listing slated to take place four weeks later, they said, adding that originally plans had been for a July listing. Following recent market volatility, some IPO hopefuls have sped up listing plans to reduce the time lag and avoid being tripped up by wobbly markets. “Everybody is trying to accelerate their plans now,” one of the sources said. Among others, Deutsche Bank DWS asset management unit has brought its IPO forward by several weeks. The SpringerNature joint venture is 53-percent owned by German publisher Holtzbrinck, with buyout group BC Partners holding the rest. The group’s owners have appointed bookrunners including Goldman Sachs and BNP Paribasto help with the listing, alongside global coordinators JP Morgan and Morgan Stanley. SpringerNature was formed in 2015 through the merger of Holtzbrinck’s Macmillan Science and Education unit with BC Partners’ Springer business, which publishes scientific, technical and medical books and journals. The creation of SpringerNature was designed to make it easier to compete with the likes of RELX as publi...
Source: News from STM - Category: Databases & Libraries Authors: Tags: Featured World Source Type: news